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Market News Gold market analysis: Inflation worries are rising, gold has risen and fallen, and it is quite strong
Gold market analysis: Inflation worries are rising, gold has risen and fallen, and it is quite strong
Gold adjusted after a wave of strong rises. The top is concerned with the resistance of $1970-1975, and the bottom is concerned with the support of $1940-1930.
2022-04-12
9790
In early European trading on Monday (April 11), the US dollar index fell significantly from its high point. The index once fell to around 99.75, after the Asian market broke through the 100 mark in intraday trading. Spot gold rebounded sharply in the short-term. The price of gold broke through the $1,950/oz mark and approached $1,969/oz. However, it fell back in the late New York session due to profits and closed at $1,953.
Although the Fed's hawkish stance is expected to continue to be positive for the US dollar, the market's new doubts about the geopolitical conflict in Ukraine still support the safe-haven function of the gold market. Energy sanctions against Russia are expected to continue to increase the already high inflation. Affected by the conflict between Russia and Ukraine and the repeated epidemics, the positive impact of high inflation expectations and risk aversion on gold prices seems to have regained the upper hand. And investors are now shrugging off the continued rise in U.S. bond yields and focusing their attention on inflation, especially inflationary pressures on food prices. The world is watching the progress of inflation and supply chain normalization. Gold and other precious metals are important hedges against inflation, especially food inflation. A sharp short-term rise in food prices will cause a recession "to happen sooner than most of us expect", and if the food price climb becomes "unmanageable," it will send global equities down and gold prices continuing to rise.
Gold fell back to around 1940 at the opening yesterday, then rebounded to around 1969, dropped to around 1940, and closed around 1953. The daily chart shows that the daily chart includes a small Yang line with an upper shadow, and the market remains at 1940-42 The first-line shock adjustment continued last week's closing rhythm. After breaking through the key resistance level of 1950, it was under pressure at the 1960 line. In the evening, the US market institutions helped. The market once soared to 1969.46, and then quickly retreated below 1950. Gold closed at the positive line and remained in a bullish pattern. . The four-hour chart shows that gold as a whole is running above the middle of the Bollinger Band, and it is still biased towards a bull. The position of the upper Bollinger Band is 1974, which is also a recent pressure. From the indicators, the overall three-line adhesion of KDJ shows an upward and divergent shape. From the MACD point of view, although the range shows an upward pattern, the current double-line has signs of adhesion and upward running bottom signs, focusing on the 1940-1930 area support. To sum up: Gold adjusts after a wave of strong rises, the top is concerned with the resistance of $1970-1975, and the bottom is concerned with the support of $1940-1930.
Personal views only, do not represent the views of the organization
Bank of China Guangdong Branch Wang Gang Source: Bank of China official website
Although the Fed's hawkish stance is expected to continue to be positive for the US dollar, the market's new doubts about the geopolitical conflict in Ukraine still support the safe-haven function of the gold market. Energy sanctions against Russia are expected to continue to increase the already high inflation. Affected by the conflict between Russia and Ukraine and the repeated epidemics, the positive impact of high inflation expectations and risk aversion on gold prices seems to have regained the upper hand. And investors are now shrugging off the continued rise in U.S. bond yields and focusing their attention on inflation, especially inflationary pressures on food prices. The world is watching the progress of inflation and supply chain normalization. Gold and other precious metals are important hedges against inflation, especially food inflation. A sharp short-term rise in food prices will cause a recession "to happen sooner than most of us expect", and if the food price climb becomes "unmanageable," it will send global equities down and gold prices continuing to rise.
Gold fell back to around 1940 at the opening yesterday, then rebounded to around 1969, dropped to around 1940, and closed around 1953. The daily chart shows that the daily chart includes a small Yang line with an upper shadow, and the market remains at 1940-42 The first-line shock adjustment continued last week's closing rhythm. After breaking through the key resistance level of 1950, it was under pressure at the 1960 line. In the evening, the US market institutions helped. The market once soared to 1969.46, and then quickly retreated below 1950. Gold closed at the positive line and remained in a bullish pattern. . The four-hour chart shows that gold as a whole is running above the middle of the Bollinger Band, and it is still biased towards a bull. The position of the upper Bollinger Band is 1974, which is also a recent pressure. From the indicators, the overall three-line adhesion of KDJ shows an upward and divergent shape. From the MACD point of view, although the range shows an upward pattern, the current double-line has signs of adhesion and upward running bottom signs, focusing on the 1940-1930 area support. To sum up: Gold adjusts after a wave of strong rises, the top is concerned with the resistance of $1970-1975, and the bottom is concerned with the support of $1940-1930.
Personal views only, do not represent the views of the organization
Bank of China Guangdong Branch Wang Gang Source: Bank of China official website
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